Take your business to the next level with Accounts Receivable Factoring for Services Companies.
We offer factoring services for start-ups and well-established service providers to help them manage their cash flow and cover essential expenses.
Factoring Receivables for Service Firms
Invoice factoring can be very beneficial to service companies. Companies that offer services to commercial businesses cannot usually pledge tangible assets to banks as collateral for a traditional bank loan. This, unfortunately, means service providers are often denied the loans they need or are approved but with limited funds to supplement their working capital. Invoice factoring is an alternative financing solution that is substantially easier to get approved for.
- Factoring invoices means quick cash: Consulting companies would be able to receive cash for their invoices right away, instead of waiting 30 to 60 days for an invoice to pay. The invoice factoring process allows businesses to receive funds in as little as 24 hours.
- Invoice Factoring means no need for a bank loan: To get the funding they need, many companies rely on bank loans. Many consulting firms are not eligible for the funding they need to grow. Invoice factoring is possible even for businesses with a bad credit history or who have been around for a very short time.
- Factoring invoices means support services: Charter Capital will collect on the invoices via letter or a phone call if necessary. We will then return the balance to the company we purchased the invoices from, minus a small fee.
Benefits of Selling Accounts Receivable With a Factoring Company
The use of factoring allows you to extend generous payment terms to your customers and still obtain cash to accelerate growth and profits — all without having to take out a loan.
Factoring from Charter Capital allows you to get cash to:
- Add more employees
- Pay outstanding debt or tax obligations
- Beef-up sales efforts
- Finance acquisitions of other consulting firms
- To meet operating cash obligations like payroll
A dedicated Account Executive and the use of our back-office support for collections and mailing out your invoices sometimes offsets the factoring fees or decreases internal overhead and related costs. We are seasoned professionals with decades of industry experience.
Is Invoice Factoring the Answer For Service Companies & Consulting Firms?
We Understand Your Cash Flow Issues
Invoice Factoring from Charter Capital can provide the financing for your business needs, grab new opportunities, invest in marketing, meet payroll demands, or simply meet other expenses.
Charter Capital provides steady cash flow with accounts receivable factoring to service and consulting firms. This allows you to focus on your business growth.